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Capital Gain
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....apital Gain<br> Query (Issue) Started By: - Siddharth Singh Dated:- 9-1-2013 Last Reply Date:- 21-3-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>A NRI is holding shares in Indian (Private) Company ....
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....for more than 12 months. Now he wants to transfer 50% of his holding to his NRI wife. The same could be for consideration or by way of gift. My query is whether the NRI required to pay any tax in Indi....
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....a if he gets any capital gain from the above if he (i) trasnfers it for consideration or (ii) transfer as gift . Also will he be required to file his tax return in India. Thanks Reply By Rama Krish....
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....ana: The Reply: As per the provisions of Section 56 of the Income Tax, a Gift from husband to wife or wife to husband is not taxable.<br> Discussion Forum - Knowledge Sharing ....